Wendy Long makes her 2011 taxes available (update)

Republican Senate candidate Wendy Long is making her taxes available to reporters today at the Albany offices of Capitol Public Strategies (which merged with Park Strategies in late August).

This spring, Long called on her Democratic opponent Kristin Gillibrand to release tax returns from her five years in office; Gillibrand responded by posting her returns online in June. Long has since demanded that the senator release returns from the year she initially sought elective office by running against Rep. John Sweeney in 2006. [Update: Gillibrand made her 2005-07 returnsavailable to reporters in 2009, soon after she was appointed to the Senate by Gov. David Paterson; while she hasn’t posted those on line, this form of disclosure is consistent with what Long is doing today — although Gillibrand displayed three years of returns.]

The highlights from the Long forms (get it?), with amounts rounded to the nearest dollar:

Long and her husband, attorney Arthur S. Long, filed jointly. The federal form claims total income of $1,240,595 and adjusted gross income of $1,159,005. Their total federal tax was $335,027.

All of their income was Arthur’s, from his partnership in the law firm of Davis Polk & Wardwell, either as direct compensation or IRA contributions. They claimed their son and daughter as dependents.

The federal form claims total deductions of $228,611, including $30,159 in charitable giving. (An itemized list of those contributions wasn’t immediately available.)

The couple claimed a $5,865 foreign tax credit, which the campaign said derived from the law firm’s many overseas offices.

The couple paid $18,360 in household employment salary.

Their state form shows the Longs paying $99,473 in state taxes and $35,008 in New York City and Yonkers taxes, for a total state/local tax liability of $134,731.

Adding up federal and state taxes, the Longs paid $469,758, or a rate of roughly 38 percent.

Update: Here’s a comment from Gillibrand spokesman Glen Caplin:

“Senator Gillibrand welcomes all efforts to increase transparency. She has led by example as the leading voice for a more transparent and accountable Congress. She believes that fixing our economy starts with cleaning up the way Washington works. That’s why she worked hard to pass the STOCK Act to ban insider trading by members of Congress and was the first member of Congress in history to post her official daily schedule, earmark requests and personal financial disclosure form online. And after releasing personal tax returns dating back to 2005, she led by example yet again earlier this year by becoming the first member of Congress in history to post personal tax returns for every year she’s served in elected office directly on her own website for her constituents to see.”